Competition in the electric vehicle market is intensifying, but many automakers realize they can’t go it alone.
Bringing electric vehicles to the mainstream will require collaboration not only between automakers, but also between auto companies and policymakers, and even automakers and oil companies. These alliances help to guide investments in EV technology and manage risks.
Such partnerships may prove critical to the advancement of electric vehicles as automakers struggle to manage costs and expand customer adoption. Global EV sales have fallen short of projections from J.D. Power and Associates. EV sales in the U.S., meanwhile, just saw a year-over-year decline in July.
But while U.S. sales have been sluggish, it’s been a busy summer so far for EV partnerships. Here are seven recent agreements to keep an eye on.